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DefenseStorm Raises $15 Million for Banking Security and Compliance Platform

DefenseStorm this week announced that it has raised $15 million in Series C funding, which brings the total investment in the company to $67 million.

JAM FINTOP, a venture fund focusing on financial institutions, shelled out $5 million in the funding round, with the rest coming from existing investors.

DefenseStorm this week announced that it has raised $15 million in Series C funding, which brings the total investment in the company to $67 million.

JAM FINTOP, a venture fund focusing on financial institutions, shelled out $5 million in the funding round, with the rest coming from existing investors.

The Alpharetta, Georgia-based company offers cloud-based cybersecurity, compliance and fraud solutions that help banks ensure they can maintain a good cyber posture.

DefenseStorm’s GRID platform monitors a bank or credit union’s network, ensures that the observed activity matches defined policies, and automatically collects evidence to demonstrate compliance with regulatory standards.

“DefenseStorm and JAM FINTOP are fully aligned in our missions to make the best technology available to community banks. Our comprehensive approach to cyber risk makes it possible for all banks to take the right steps to protect their assets, customers, and reputation,” DefenseStorm CEO Steve Soukup said.

“Our integrated technology platform is purposefully Built for Banking, meaning everything we do is designed to meet the demanding requirements and regulations placed on banks,” Soukup added.

Related: Access Management Firm Opal Launches With $10 Million Series A Investment

Related: Whistic Raises $35 Million in Series B Funding for Vendor Security Network

Related: Security Awareness Firm CybSafe Bags $28 Million in Series B Funding

Related: Cloud Data Security Startup Laminar Raises $30 Million

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

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